I recently wrote an article for our CTK Insurance clients about the very real threat of serious injuries for temporary employees. Data from OSHA for 2015 indicates that staffing firms suffered more than 120 OSHA reportable claims last year; most of them hospitalizations, and amputations. But some were death claims, too.
The cost of there serious claims in trauma to your employees and their families is certainly devastating. But the costs that these claims generate in higher premiums to your staffing firm can be equally as devastating. Every year, we see staffing firms whose profits are completely wiped out by the effect of serious claims on their workers’ compensation costs.
What can you do about it? Training and Education and sharing ideas amongst staffing owners is a great way to learn what is happening in the workers’ comp marketplace; and to get ideas on how to better manage your second highest cost driver after payroll.
Where can you get this training in a very cost effective way? The CSP annual convention in Indian Wells, between May 18 and 21. Two industry experts from the staffing workers’ comp marketplace will be conducting seminars during the CSP convention that is just weeks away.
Many staffing clients stress about the high costs of workers’ compensations. This is an opportunity to turn that stress into action and learn from the experts what you can do to control your costs.
Richard D. Seimer
CTK North American Insurance Services, LLC